Footwear Market in APAC by Distribution channel and Geography - Forecast and Analysis 2022-2026

APAC Footwear Market Forecast 2022-2026

The APAC footwear market share is expected to increase by USD 55.92 Billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.36%.

This Asia Pacific footwear market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the Asia-Pacific Footwear Market segmentation by distribution channel (offline and online).

The footwear market report in APAC also offers information on several market vendors, including adidas AG, Alpinestars USA Inc., ASICS Corp., Bata India Ltd., Belle International Holdings Ltd., Daphne International Holdings Ltd., GEOX Spa, Industria de Diseno Textil SA, LVMH Moet Hennessy Louis Vuitton SE, Metro Brands Ltd., Nike Inc., Paragon Polymer Products Pvt. Ltd., PUMA SE, PVH Corp., Sara Suole Pvt. Ltd., VF Corp., Wolverine World Wide Inc., Woodland Worldwide, VKC Pride, and Reliance Industries Ltd. among others.

What will the Footwear Market Size in APAC be During the Forecast Period?

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Footwear Market In APAC: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the footwear market in APAC. During the COVID-19 pandemic, the demand in the Asia Pacific footwear market has been impacted significantly, but a holistic analysis of drivers will help in estimating exact demands and refining marketing strategies to gain a competitive advantage.

Key Footwear Market in APAC Driver

The growing demand for athletic footwear is one of the key factors driving the footwear market growth in APAC. This demand is more pronounced in countries such as China and India. Additionally, the increase in international sporting events in the region has become one of the major catalysts for increased consumer awareness of the various benefits of sports and fitness activities. This is likely to boost the demand for athletic shoes in the region during the forecast period. Moreover, growing enthusiasm for participation in various sporting events, such as Asian Games, ICC Cricket World Cup, ACC Asian Cup, etc., further contribute to the growth of the market in the region. Rising disposable income allows Indians to move up the value chain and demand products for different applications, leading to the emergence of new product segments in footwear in terms of price, performance, and aesthetic appeal. This, in turn, promotes the growth of the different individual categories, whether slippers, sandals, or shoes, encouraging industry leaders to update their products constantly.

Key Footwear Market in APAC Trend

In APAC, increasing Internet penetration is the main driver for the growth of the footwear market. The average amount of money spent online per transaction and the number of transactions made online are increasing in the region. The increasing number of Internet users and their buy-now attitude contribute to the growth of the footwear market in APAC. The ease and time-saving aspects of online shopping, along with the wide range of products available, encourage consumers to shop online rather than in physical stores. Enhanced security features brought about by online payments, free shipping, better online customer service, and more convenient shopping sites are also contributing to the growth of the market. Increasing smartphone usage is also contributing to the growth of the footwear market in APAC. These factors will have a positive impact on the growth of the Asia Pacific footwear market during the forecast period.

Key Footwear Market in APAC Challenge

Increases in labor costs are the major challenge to the footwear market growth in APAC. Many companies that sell footwear on the international market have factories in Asia, including Indonesia, China, Bangladesh, Vietnam, and India. Due to their rapid economic development, these nations have seen an increase in labor costs in recent years. Costlier labor will result in higher manufacturing expenses and lower vendor profit margins. During the forecast period, this would hinder the expansion of the footwear market in APAC. Many vendors in this market are concerned about the rising cost of labor in various footwear manufacturing factories in APAC. For instance, many companies have been forced to relocate their production facilities from China and Indonesia as a result of significant wage increases in these nations. As a result, footwear companies in China have suffered losses. Such factors will hinder the Asia Pacific footwear market growth during the forecast period

This footwear market in the APAC analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Footwear Market In APAC Vendors?

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The report on the footwear market in APAC contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors

• Adidas-group.com - The company offers footwear such as Lite Racer BYD, Racer TR Slides, and X9000L2 U.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Adidas AG
• Alpinestars USA Inc.
• ASICS Corp.
• Bata India Ltd.
• Belle International Holdings Ltd.
• Daphne International Holdings Ltd.
• GEOX Spa
• Industria de Diseno Textil SA
• LVMH Moet Hennessy Louis Vuitton SE
• Metro Brands Ltd.
• Nike Inc.
• Paragon Polymer Products Pvt. Ltd.
• PUMA SE
• PVH Corp.
• Sara Suole Pvt. Ltd.
• VF Corp.
• Wolverine World Wide Inc.
• Woodland Worldwide
• VKC Pride
• Reliance Industries Ltd.

This statistical study of the APAC Footwear Market encompasses successful business strategies deployed by the key vendors. The footwear market in APAC is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Footwear Market In APAC Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the footwear market in APAC which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

The value chain of the global footwear market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

What are the Revenue-generating Distribution Channel Segments in the Footwear Market In APAC?

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The APAC Footwear Market share growth in the offline segment will be significant during the forecast period. Offline sales channel revenues are generated from specialty stores (including brand stores, multi-brand stores, clothing stores, fashion and personal accessories stores, and sporting goods stores), hypermarkets, supermarkets, convenience stores, clubhouses, and department stores. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the footwear market in APAC size and actionable market insights on the post-COVID-19 impact on each segment.

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Footwear Market Scope In APAC
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 8.36%
Market growth 2022-2026	USD55.92 billion
Market structure	Fragmented
YoY growth (%)	6.92
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	adidas AG, Alpinestars USA Inc., ASICS Corp., Bata India Ltd., Belle International Holdings Ltd., Daphne International Holdings Ltd., GEOX Spa, Industria de Diseno Textil SA, LVMH Moet Hennessy Louis Vuitton SE, Metro Brands Ltd., Nike Inc., Paragon Polymer Products Pvt. Ltd., PUMA SE, PVH Corp., Sara Suole Pvt. Ltd., VF Corp., Wolverine World Wide Inc., Woodland Worldwide, VKC Pride, and Reliance Industries Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Footwear Market Report in APAC?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive the footwear market growth in APAC during the next five years
• Precise estimation of the footwear market size in APAC and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the footwear market industry across APAC
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the footwear market vendors in APAC 

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